160 People Helped
Member Since: March 2012
I obtained the CapOne Secured last March with an initial deposit of $1000. Every month I used the card and then paid in full, every other month I added more to the deposit. I could see immediate results in my score, 20 points when it was added to my report, and 20-30 points each time the credit limit was increased by making additional deposits. My starting score was 530, by September it was at 680. I made other minor improvements to my report, but the CapOne secured card is what made the biggest difference.
beenjamminMD's response was:
Google"credit fraud alert"
I reasearched and compared all of the secured cards thoroughly and I would only recommend the CapOne card becasue you can make additional deposits to increase your credit limit. Plus they automatically increased my limit 2 times over the past year.
beenjamminMD's reply was:
A pay for delete works best prior to making contact with the Creditor. Once you aknowledge ownership of the debt they are legally obliagated to report all correct information. A PFD usually says something like, "I do not aknowledge ownership or this debt, however I'd be willing to pay $XXX on the condition that this item is deleted from my credit report(s)." However, all may not be lost. Call the creditor, explain to them that you are only interested in paying of this debt in exchange for a deletion letter. If they agree, ask for it in writing, and don't pay until you get it. You may also want to check if the statute of limitations has expired in your state, if it has you may be able to use it as leverage when dealling with the creditor.
If all attempts at a pay for delete fail, just pay of your debt. A paid collection is much better than an unpaid collection, and you should be proud that you handled your obligations.
Add a store credit card, secured card, and/or auto loan. Pay on time and your credit report and score will be more robust.
Cards do not report as being either secured or unsecured, just as a card.
Pull a copy of your report. It will give you the name, address, telephone number, account history, balance, and any other details provided by the creditor.
This is simple for you to do on your own without the help of a pay-for-service. Ignore the previous commentor. You will find all the answers and help that you need on here and other free credit help sites.
Simply file disputes with the credit bureaus that have this negative information. Since the Management Co is no longer in bussiness they will not respond to the inquiry and it will be delete. However since it is 7 years old it should be falling off your report soon anyway. Unless of course it is a judgement or a lein, then it's yours to cherish for 10 years. Good luck.
The home and auto insurance scores are based soley on your credit report and has absolutely nothing to do with past claims. The assumption is being made that someone with a lower score or greater debt is more likely to file a claim against an insurance policy. This is where I feel your frustration. We are required (in most cases) to pay for insurance on our vehicles, homes, and mortgages and we expect the policy to pay when it is needed, Then this score penalizes us for using something that's required anyway. It's ridiculous. However, your insurance company may not even use this to set your rates.
You can try writting a letter to each one. I had a similar situation when I recently purchased a vehicle. I walked into the dealership with bank financing already prepared. The salesman aksed me fill out a credit app, saying it was a government requirement, I called BS and he fought me on it tooth and nail. I finally agreed when he assured me they would not run my credit. I took 7 hard inquiries that day. Recently I began writing letters to each company, 3 have responded with letters saying they had no records of the inquiry and they would send letters to all 3 bureaus within the next 30 days. I found the letter on a credit forum and edited it to my needs. Btw, that salesman no longer works at that dealership. Best of luck!